Amiad Water Systems Ltd Management Change (4044D)

TIDMAFS

RNS Number : 4044D

Amiad Water Systems Ltd

28 October 2020

28 October 2020

Amiad Water Systems Ltd.

("Amiad" or the "Company")

Management Change

Amiad (AIM: AFS), a leading global producer of water treatment and filtration solutions, announces that Avishay Afriat, Chief Financial Officer of the Company, has today formally given notice of his intention to step down from his position. He will remain with the Company until the end of the year to enable an orderly handover with his successor. The Board of Amiad has identified a potential candidate to assume the CFO role and will update the market in due course.

Yariv Avisar, Chairman of Amiad, said: "We thank Avishay for his tremendous service to Amiad over the last 11 years. During that time, he has been instrumental in establishing many of the budgeting and reporting systems we have in place today and, most recently as CFO, has helped steer the business through some challenging periods. We are grateful for his contribution and wish him all the best in his future endeavours."

Enquiries

 
 Amiad Water Systems Ltd. 
 Yariv Avisar, Chairman 
  Dori Ivzori, Chief Executive 
  Officer                         [phone] 
                                 ----------------- 
 
 Stifel Nicolaus Europe Ltd. 
                                 ----------------- 
 Stewart Wallace, Ben Maddison    [phone] 
                                 ----------------- 
 
 Luther Pendragon 
                                 ----------------- 
 Harry Chathli, Claire Norbury    [phone] 
                                 ----------------- 
 

About Amiad

Amiad Water Systems (AIM: AFS) is a leading global producer of automatic, self-cleaning water treatment and filtration products and systems. Through its engineering skills and ability to innovate, Amiad provides cost-effective "green" solutions for irrigation and industrial purposes. In these markets, its unique and high-quality products are being integrated into the core of systems for filtration and water treatment, micro irrigation and membrane protection, wastewater and potable water treatment, cooling systems and sea water filtration. Headquartered in Israel, Amiad provides these solutions through ten subsidiaries and a comprehensive network of distributors to customers in more than 80 countries.

FIMI Opportunity Funds, the leading private equity investor in Israel, is a controlling shareholder of Amiad, with an interest in 39.5% of the Company's outstanding issued share capital.

For additional information or product details, please visit www.amiad.com .

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October 28, 2020 03:00 ET (07:00 GMT)